It needs regulatory approval, and this is not to happen untill end of June. Nothing is going to happen untill the autum at the earliest, and it will take about 2 years untill the companys are fully intergrated.
It is being called a merger, but most of the top management positions are to be taken by TCX managers, Karlstat is the majority share holder (52%) and the combined company is to be called Thomas Cook Group PLC. Read into that what you will, but it doesnt sound much like a merger to me. Also the share holders of MYT have had to give assurances of credit and bonding which TCX has demanded.
I get the feeling this summer is going to be a bad one for both airlines!